Envestnet Portfolio Solutions Inc. Increases Stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Envestnet Portfolio Solutions Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 35.2% during the 4th quarter, HoldingsChannel reports. The fund owned 30,786 shares of the bank’s stock after acquiring an additional 8,018 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of SMFG. PNC Financial Services Group Inc. grew its holdings in Sumitomo Mitsui Financial Group by 3.3% during the third quarter. PNC Financial Services Group Inc. now owns 181,711 shares of the bank’s stock valued at $2,295,000 after purchasing an additional 5,858 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Sumitomo Mitsui Financial Group by 13.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 58,857 shares of the bank’s stock valued at $743,000 after acquiring an additional 7,139 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Sumitomo Mitsui Financial Group by 12.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,921 shares of the bank’s stock worth $5,127,000 after acquiring an additional 45,761 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in Sumitomo Mitsui Financial Group by 10.9% during the third quarter. Eagle Asset Management Inc. now owns 63,718 shares of the bank’s stock valued at $891,000 after purchasing an additional 6,271 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in Sumitomo Mitsui Financial Group by 31.7% during the third quarter. Cerity Partners LLC now owns 353,043 shares of the bank’s stock valued at $4,459,000 after purchasing an additional 84,989 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Stock Performance

NYSE SMFG opened at $16.23 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.94. Sumitomo Mitsui Financial Group, Inc. has a twelve month low of $10.74 and a twelve month high of $16.74. The business has a 50-day moving average price of $15.27 and a 200-day moving average price of $14.22. The firm has a market cap of $105.07 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 2.36 and a beta of 0.59.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Friday, March 21st.

Sumitomo Mitsui Financial Group Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.